The Beresford

Central Park West

When surveying co-ops, where else to begin than Central Park West? This is the gold coast, from the Trump International Hotel & Tower on Columbus Circle to 96th street. And despite marquis new developments like 15 CPW most every building on CPW is a co-op. And they are quite exclusive.

The Towers of Central Park West

CPW is unlike any other avenue -- with five monumental pairs of towers - the Beresford, El Dorado, Majestic, San Remo and Century , it has an energy and beauty found nowhere else.

The Beresford co-op (81st and CPW):

The building:
The Beresford is essentially like living in a castle. It looms like a chateau over Central Park - here's some background.

Beresford residents:
Needless to say, you'll be in good company:
>Finance: Vikram Pandit (Citigroup CEO); Paul Singer (Hedge fund Elliot Associates);
>Hollywood: Jerry Seinfeld; Carol Levy
>Sports: John MacEnroe
>Business: Lew Frankfort (Coach)
>Helen Brown (Hearst)

Pros and Cons:
>Transportation: Right near the cross-town and CPW bus stops and basically on top of a subway stop.
>Parks: Across the street from one of the prettier entrances to Central Park, with a playground, the Museum of Natural History and the Great Lawn a few feet away.
>Ammenities: Gym.
>Other conveniences: Like Zabars? Only 3 blocks away.
>Views: The Beresford's perch provides unique unobstructed views not only over the Park, but also down Central Park West to midtown.
>Noise Level: With thick pre-war walls and high ceilings, the Beresford is whisper-quiet. But if you're on a low floor on the CPW or 81st street side, be aware of the bus noises -- the corner is a busy commuting nexus in the morning.
>Well, this may be a bit obvious, but I'm quite the fan of this building.

Beresford Transaction Details and Financials:
>50% maximum financing
>2% transfer fee
>Healthy building financials, especially with proceeds from the renovation regulations.

Beresford -- Sample Floor Plans and Interiors:
>We've got some good stuff for you. Click here.

Beresford -- Experienced Brokers:
>Carol E. Levy Real Estate -- the principal of this firm actually lives in this building, so she'll bring great process knowledge.
>Joanna Pashby of Corcoran -- sold one of the four penthouses for $19 mm. A good price. Solid. But reduced from the $28 mm asking price.
>Jean Meisel at Brown Harris Stevens -- currently selling a 2 BR.

Beresford -- Renovations:
>Note in regard to any renovation plans, that this is a landmarked building
>Time limits: 10 days for demolition and 90 days for heavier work with daily fines thereafter

Beresford -- Recent Sales:
>$17.9 mm: 10 rooms on single floor, bought by Vikram Pandit (Citigroup) in late 2007 from Tony Randall; via Corcoran.
>$19 mm: Duplex penthouse with two terraces, bought by Ronald Beck (Oaktree Capital) in January 2008 from Nari Hira (Bollywood producer)

Beresford -- Co-ops currently for Sale:
>Here's a nice 2 BR...and only $4.8 mm! But that comes with a 37% tax deductibility. That's all on the market now - as we said, it's quite exclusive.

And finally...a bonus category: Beresford -- In Books and Culture:
>For all of you inclined to really deep due diligence before buying...feel free to skim Luxury Apartment Houses of Manhattan: An Illustrated History